Bank of America Corp DE raised its position in shares of FinVolution Group (NYSE:FINV - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,162,853 shares of the company's stock after purchasing an additional 84,863 shares during the quarter. Bank of America Corp DE owned about 1.19% of FinVolution Group worth $21,476,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of FINV. Leading Securities Co Ltd bought a new stake in FinVolution Group during the fourth quarter worth approximately $14,091,000. Norges Bank acquired a new stake in shares of FinVolution Group during the 4th quarter valued at $6,360,000. Prudential PLC bought a new stake in shares of FinVolution Group during the 4th quarter worth $3,370,000. Renaissance Group LLC acquired a new position in shares of FinVolution Group in the 4th quarter worth $2,732,000. Finally, EAM Global Investors LLC acquired a new stake in shares of FinVolution Group during the fourth quarter worth $2,613,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.
FinVolution Group Stock Performance
FinVolution Group stock opened at $8.79 on Tuesday. FinVolution Group has a 52 week low of $4.63 and a 52 week high of $11.08. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 7.58 and a beta of 0.30. The company has a 50 day moving average price of $8.59 and a 200 day moving average price of $7.69.
FinVolution Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.38 EPS for the quarter. The firm had revenue of $473.57 million during the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.
FinVolution Group declared that its board has authorized a share buyback program on Monday, March 17th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.
FinVolution Group Increases Dividend
The business also recently disclosed an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were given a dividend of $0.277 per share. The ex-dividend date was Wednesday, April 16th. This is an increase from FinVolution Group's previous annual dividend of $0.24. This represents a yield of 2%. FinVolution Group's payout ratio is presently 16.80%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on FINV shares. UBS Group reiterated a "neutral" rating and issued a $11.80 price target (up previously from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th. Citigroup upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $6.00 to $11.00 in a report on Tuesday, March 18th.
Check Out Our Latest Research Report on FinVolution Group
About FinVolution Group
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Free Report)
FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.
See Also
Want to see what other hedge funds are holding FINV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FinVolution Group (NYSE:FINV - Free Report).
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